As per CNBC reports on Feb 24, 2020, billionaire Buffett said that he does not own crypto and derided its supposed lack of purpose.
Tron (TRX) founder Justin Sun begs said that he had gifted cryptocurrency to Buffett, but he would not define Buffett as a crypto investor. Sun added that the value of the Bitcoin and Tron he gave Buffet has already increased by 20%.
Buffett ostensibly received the gift at his famous charity luncheon, which Sun won at auction last year. The two met at a private country club in Nebraska along with other crypto luminaries including Charlie Lee, founder of the Litecoin Foundation, and Chris Lee, the CFO of major cryptocurrency exchange Huobi.
Warren justified his lack of interest in cryptocurrencies by saying that they have no value and that “Bitcoin has been used to move around a fair amount of money illegally.” He is not the first member of the world’s financial elite to express distaste towards cryptocurrencies because of their purported prevalence in illicit activities.